09/01/2024
Why use a finance broker over going direct to the bank?
As a finance broker myself I am often asked why someone should engage the services of a broker as opposed to doing it themselves.
Well, firstly TIME;
Sure you can always get online, walk into or call a bank to find the best deals in the marketplace OR you can delegate that task to an experienced finance broker to do this for you, saving you time. Time that you can spend on your business, time that you can spend with your family.
CHOICE:
You may have an existing relationship with a bank. Your bank will be bound by its own policies so if what you are looking to do is outside the box and does not meet the bank's appetite for risk, their level of assistance will be limited. A finance broker is accredited with multiple lenders, all have their own policies and appetite for risk, giving you choice and a better chance to place your transaction.
EXPERIENCE:
Depending on the complexity of your transaction, obtaining finance is not always as simple as walking into a bank and presenting financials in exchange for a loan approval. The success of your application is very much dependent on how the opportunity is presented to the bank, if there are risks, how these risks have been mitigated to provide comfort to the bank, adherence to certain policies and guidelines etc. An experienced finance broker will definitely add value in negotiating your transaction with the bank
CONSISTENCY:
Banking is all about relationships and relationships are all about consistency. Bank managers and relationship managers tend to get promoted, move roles, change banks, leaving you to start all over again everything there is a change or restructure. A broker on the other hand, especially one that owns the business is unlikely to move roles, providing a single point of contact and consistency.
Call now to connect with business.
